[Gyeonggi provincial delegation’s visit to Japan ③] Investment agreements – two cases in Tokyo and one case in Nagoya

◇ On the morning of June 18, Gyeonggi Governor Kim Moon-soo and DENSO Vice-president Masahiko Miyaki are having a photo taken after singing  the USD 45 million investment agreement. ⓒ Gyeonggi G-News

Gyeonggi provincial delegation, led by Gyeonggi Governor Kim Moon-soo, attracted a total of USD 85 million (KRW 95.3 billion) investment and promised mutual exchanges and cooperation with Gifu Prefecture during the one-night-two-day trip to Japan and returned home on the afternoon of July 18.  

After the delegation successfully attracted USD 40 million investments on the first day (July 17), it had a signing ceremony for USD 45 million of investment agreement in the presence of Governor Kim and DENSO President Nobuaki Kato on the second day (July 18) at 9:50 a.m. at the headquarters of DENSO in Kariya City, Nagoya.

DENSO Corporation is the world’s second automobile parts maker in terms of sales. It entered the Korean market under the name of Denso Sales Korea Corp. in 1997, Denso PS Electronics Corp. in 1998, and Denso PS Corp. in 2000.

Its investment of this time is an increased investment corresponding to a new contract won by Denso PS from Hyundai Motor Group, and this company will establish additional factories near the existing factory site located in Jangan 2 Foreign Investment Complex in Hwaseong, Gyeonggi Province.

Governor Kim said in his greeting remark, “I’d like to express my gratitude to DENSO for deciding to increase investment in the midst of various harsh circumstances. I hope DENSO’s world-class technologies will considerably contribute to the advancement of Korea’s automobile technologies. We will actively cooperate with your company.”

Gyeonggi Province expects such investment will create about 200 new jobs by 2018. In addition, it is expected that an increase in investments by DENSO will strengthen Korea’s competitiveness in the overall automobile industry as well as the domestic automobile parts industry, and positively influence economic revitalization in Hwaseong region. 

◇On the afternoon of July 17, Governor Kim and Nissha Printing President Junya Suzuki (second from left), NSTech CEO Ryu Ji-hong (first from left), and SMAC CEO Lee Sung-chul (first from right) are having a commemorative photo taken after concluding USD 10 million investment agreement in Tokyo, Japan. ⓒ Gyeonggi G-News

By doing so, Gyeonggi provincial delegation invited a total of USD 85 million (KRW 95.3 billion) by concluding two investment agreements in Tokyo and one agreement in Nagoya during one-night-two-day visit to Japan from July 17 to 18. In addition, by holding a briefing session on investment environment in Gyeonggi Province by inviting officials from IT-related associations in Japan including Japan Electronics Packaging and Circuits Association (JPCA), Japanese Semiconductor Ventures Association (JASVA), and Sangyo Times, an industrial newspaper, Gyeonggi Province successfully draw attention from the locals.

Meanwhile, the delegation opened doors to promote friendly cooperation between Gyeonggi Province and Gifu Prefecture in Japan by promising to build cooperative partnership over issues such as tourism, ceramics, and measures for low birth rate and aging phenomenon.

Governor Kim commented that “During our visit, Japanese core tech companies having the world-class technologies related to display materials, touch screen, and automobile parts decided to invest in Gyeonggi Province,” explaining the outcome of the visit that “We expect an increase in global competitiveness of finished products using such technologies, spread of Japanese technologies into Korean companies, and new employments and cultivation of technical manpower thanks to invited investments.”  

ⓒGyeonggi G-News | Nam Gyeong-woo  echo2008f@gg.go.kr 

http://gnews.gg.go.kr/news/news_detail.asp?number=201307181437477055C052&s_code=C052